1. The amounts of money requested on home loan applications at Federal Savings follow the normal distribution, with a mean of $270,000 and a standard deviation of $35,000. A loan application is received this morning. What is the probability:
a. The amount requested is $270,000 or more?
b. The amount requested is $300,000 or more?
c. The amount requested is between $265,000 and $365,000?
d. The amount requested is $365,000 or more?
a. None of the antennas is defective.
b. Three or more of the antennas are defective.
c. At most 3 are defective.
d. All 10 antennas are defective.
The solution provides step by step method for the calculation of binomial probability. Formula for the calculation and Interpretations of the results are also included.